The NEPSE Index witnessed a significant decline on Wednesday, the fourth trading day of the week. The index fell by 74.73 points to close at 2,776.36.
Despite the sharp drop, trading volume remained encouraging. A total of 30.2 million shares of 347 companies were traded, amounting to a turnover of NPR 12.10 billion.
Most investors faced losses during the day. Out of the traded companies, only 13 saw their share prices increase, while 255 recorded declines, and the rest remained unchanged.
However, a few companies managed to hit positive circuit levels. Reliance Spinning Mills and Super Khudi Hydropower recorded a 10% increase in their share prices. Similarly, Bhujung Hydropower, Ridi Line Energy, Suryakund Hydropower, and Hotel Forest Inn also saw gains of करीब 10%.
In terms of transaction value, Himalayan Reinsurance topped the list with shares worth NPR 713.1 million traded. Other companies with notable transactions included API Power Company, Ngadi Group Power, and Shivam Cement.
The recent decline in the market is believed to be influenced by the government’s newly introduced 100-point agenda, which did not include capital market reforms. Additionally, the government’s move to intensify anti-money laundering actions has also negatively impacted investor sentiment.
Just last week, the NEPSE index had reached around 2,960 points. Over the past six trading days, the market has lost approximately 184 points.
While daily turnover had reached as high as NPR 23 billion during peak market periods, it has now dropped to around NPR 12 billion.
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